Vietnamese real-estate short of marketing strategies

October 18, 2006

08:53′ 18/10/2006 (GMT+7)

Soạn: HA 927679 gi đến 996 để nhn ảnh này

VietNamNet Bridge – Coming up with effective marketing strategies is a problem for Vietnamese real estate traders at present.


At the 4th HCM City Real Estate Night held in late September, Paul Mason, General Director of the NAI Global group in Vietnam, pointed out typical errors in marketing real estate projects in Vietnam.


One of the most dangerous errors is marketing real estate projects to everybody. This mistake, according to Mr Mason, comes from the lack of a marketing strategy, and results in a waste of effort.


“If investors can’t define a potential market they will not be able to introduce their projects effectively,” he said.


Discussing this issue, Deputy General Director of the Hoang Quan Real Estate Company, Truong Thai Son, accepted that Vietnamese real estate traders often commit a popular error – marketing their projects too widely.


“High-grade houses and industrial zones are not the products that everybody needs. For example, it is ineffective if Hoang Quan advertises the Hoang Quan villa project in south Saigon to all customers because the price is too high. It is better to have a customer strategy for six months to one year,” Mr Son said.


Meanwhile, many real estate traders only introduce their projects through pamphlets. This method can help them save some money but the results are very poor.


According to Paul Mason, this way of marketing can only help real estate firms find potential clients. Information about projects that customers find out from pamphlets is extremely poor and it doesn’t convince customers to buy houses.


Director of the Dat Lanh Real Estate Co, Ltd Nguyen Van Duc said: “I’ve by chance made mistakes in marketing by delivering pamphlets and advertising in newspapers and waiting for the results. I believe that many other real estate companies have made the same mistake. This way of marketing is very simple. However, this is an objective problem because of shortage of funds”.


Small- and medium-sized enterprises, which lack experience, always accept the fact that they don’t have a marketing strategy. To survive, the only way is by taking care of their clients with their sincerity and prestige. It is called marketing by character, which is very popular in Vietnam and other countries in Southeast Asia, Mr Duc said.


“Marketing is a strange field in Vietnam, particularly real estate marketing. So far, the real estate market in Vietnam has operated under the latent mechanism, under which, those who have demands for houses and land will find information themselves. That’s why real estate companies don’t think much of marketing,” said Dang Thi Thu Thuy, Head of the Marketing Department of the Sacombank Real Estate Company (Sacomreal).


“However, as more and more real estate companies appear and land and house become more and more valuable, marketing is much more necessary for real estate traders. The real estate sector is now thirsty for marketing strategies more than ever on the threshold of the WTO,” she added.


(Source: Do Thi)

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